HomeMy WebLinkAbout2025 18. It is spccifically undpr~tond that the ZioTtRaRor shall have the riRht ca prepay
the .lmount due lierpi~nder~ ~r any portion thereof, at anq time, in mutttples of
ti~•• monchly pay~oent Rtipulated i~ the prowiaaory ~note secured by this MortgaRe
deed~ however as m~y be limlted by the terai of said psomisaory note.
19. The abstract of title ~-ovrrlnR the encumbered property shall remain in the
possession ~f SMA d~~rin~ th~ lien of this liortgage, and efter foreclosure it
shall becane the prurerty ~f SMA.
20. That it ~s the intenr h~r~nf to secure payeent of the note herein described,
vhether the ful i am~~~nt ~ i,~r~c?f chal l have been advanced tq, t~e,Mortp,ago= ai;
the date hereof, c+r at later date; the Mortgagee may, at!tfie sole option Of
the MortRagee, from cimc• t~ time before the payaent of all indebtedness secured
hereby. make further wdvances to the l~lortgagor, which advances shall be like-
vise secured by this MertRafip; provided, however, that the total principal sum
secured herebv and remaininfi unpaid. including ary such advances, shall not at
any time excee~d the oriRinal principal sus of note herein described. All advances
made pursuant ro th~ prrrioi~s sentence shall be e~ade trithin the time limit
authorized by Florida l.aw for makinR valid future advances. MortgaRor shall
repay all Such furflier a~1v:~n~es vith interest and the indebtedness created by
virtue of such furth~•r adv~n~es shall be atd ate secuted hereby. All provisions
of this MortRa~~ apply tr cach and ever~ further advance made pursuant to the
provisions of thi~ paraRr~ph. Nothing herein contained shall limi[ the amount
secured by this Mortg~gc, to the extent said amount is increased by advances
made by SMA, as i~erei» el «vhere provided and authorized~ for the protection
of the securitv of $~p. •
21. That the mailinR of writtPn notice of de~mnd, addressed to the owner of record
of the MortRaRed Fremise~, directed to the said owner at the last address actu-
ally furnished t~ SMA . or directed to the said owner at said Mortgaged pranises,
aad mailed by the Unirc~d States mafls, shall be sufficient notice and de~and in
any case arisinR ~~ndPr this instrument and/or the note secured hereby or other-
wise required by th.~ ~rovicions hereof or by law.
22. If the mortRaRed p~en~ises is o[her thaa a single family dwelling, the Mortgagor
covenants aad aqrees that he will, not later than thirty (30) days after the end
of the f i scal year , f urni sh unto g~ a complete atfd accurate balance sheet atxl
profit and loss stwtem~~nt reflectinq the ?lortgagor's liabilities as vell as profit
and loss for the M~rtg:~qar's business for the year iaaediately preceeding the end
of the Nort~aRor's fiscal year, and euch balance eheet attd profit and loss state-
ment shall be prppare:i hy a certiffed public accountant licensed in the State of
Florida, ind sha11 5e certified as being correct by such certified public
accountant.
23. To the extenc ~f rt~e ~ndPhcednesc of the Mortgagor to described herein or ;
secured hereby, ~s hereby subrogated to the lien or liens and to the rights of
the owners and holdcrs thereof of each and e~very mortgage, lien or other encum-
bTances on the IanA described herein whlch is paid aM /or satisfied, in vhole or
in part, ouc o~ ct,c ~r~cee~is of the loan described herein or secured hereby, and
the respective licns of said ~aarrqa~es, liena, or other encumbrances, shall be
and the samP and ea~b o~ rhem hereby is preserved and shall pass to and be held
by SMA herein is sccur~cy for the indebtedness to SMA herein described or here-
by secured, to the s.+m~• P.xtent that it Would have been preserved and would have
been passed to and hee:i held hy SMA had it been dulq and rtgularly assigned,
transferred. set over an~i delivered by SMA by sepxzate deed of asaig~ent, not-
withstandinR th~ facc that the eame ~ay be satisfied and cancelled of record,
it being the intenti~n af rhe parties hereto that the sase ~rill be satisfied
and cancelled of rPCOr;t hv the holders heYeof at or about the ti~e of the record-
ing of this Mc,rt~a~P.
24. To pay all and singular~the costs, charges and expenaee, including attorney's fees,
reasonably incurr ~1 or paid at arry ti,e by g~p, beceuee of the failure of the
MortRaqor to perform~ c~oply vith and abide bq each end every the s[ipulations,
agreements, conditi~ns and covenants of said praaieaory note and this der~. er
either, and every such payment shall bear interest at the rate of t~ (1QX) per-
cent. per annum.
25. It is specificatlv ~~;reecl chat time is the esaence of this contract and that no
vaiver of any ohllRation hereunder or of the obligation secured hereby ehall at
any'time thereaftcr be held to be a valver of the tet~s hereof or of the instrusent
secuTed herehy.
26. That no extenctRn of c,hc timP or modification of the ter~s or pay*ent hereinabove,
and no release of ~ny part or parts of the sottgaged prsises shall release,
relieve, or dischar~;e the Mortgaqor fro~ the pay~ent of any of the suas hereby ~
secured but in such Pvent the tiortgagor shall n~rertheless be liable to pay such
s~s accordinR ta th~ rerma of such extetr ion or ~odificatioa unless ~pecificslly
released and discliarRPd in vritinR by SMA acd farthess~re. Lhat iceeptance
of part pay~ent of any installRlAL of princlpal os iot~ra~t, or both, or of part
perforsance of any c~vr•nant or delay for any pesiud o~ ti~e in exercisinR the
option to mature rhe entire deht, shall not operate as a wiver of the riRht to
exerciae such o~tinn on account of'such default. partial •cceptance or any sub-
sequent default.
5 ao~f 206 2~21
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